The index value of a smallcase indicates the absolute price returns of that particular smallcase from the date of its inception. The index value is set to 100 on the inception date of the smallcase.

The current index value shows by how much it has gone up since then. In the below example, the index value is 158.11, which indicates that this smallcase has given a total return of 58.11% since inception [(158.11-100)/100]. You can also view the daily increase or decrease in the index value.

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